In order to meet the Paris Agreement target of 1.5o, emissions need to be tackled faster and more efficiently than what has been done so far. Every day, significant mitigation opportunities are missed, not because we lack technology or resources, but because we lack visibility and the capability to share opportunities and outcomes.
The private sector can play a key role if market forces are brought to bear – driving down supply chain emission. A lack of accurate and reliable data for supply chain emissions keeps the invisible hand from doing its job. Like minded companies can work together to share primary data, create emission reduction price signals, and facilitate the allocation of capital in the most effective way.
We believe the private sector is well positioned to take a leading role in the allocation of capital for the deployment of sustainable infrastructure. No one can transition alone. Businesses must work together, pooling resources, to accelerate change. Building a robust, decentralized data layer infrastructure to support business decisions across supply chains is key and will drive investment towards low cost, short term decarbonization opportunities.
It’s about progress not perfection
We don’t have all the answers. On the other hand, we know supply chain partners
must be able to share primary data in order to act.
Build emission inventory from the bottom up. Link data from each emission source at each facility, leveraging existing Enterprise Resource Planning systems as much as possible.
Bring emission data to the cloud. Creating a “single source of truth” and automating data collection and reporting can enable strategic collaboration.
Provide secure access to primary data so industry experts can develop sector specific allocation frameworks in line with WBCSD Pathfinder.
Make allocation frameworks “open source” and leverage the resulting data flow to generate value. Move audited primary data to our distributed ledger with the goal of integrating it with the Carbon Action Data Trust.